High-asset divorces can be complex. Couples with significant wealth may own properties abroad, hold foreign bank accounts or invest in international markets. This can complicate the division as it may involve foreign judgments and international laws.
Are international assets divided equally?
In Pennsylvania, equitable distribution governs the division of marital property. This means the court aims to divide the assets fairly but not equally. If acquired during the marriage, international assets are subject to equitable distribution. The court will consider these factors:
- Length of the marriage
- Each spouse’s income and needs
- Contributions to the marital estate
Full disclosure and accurate valuation are crucial when dealing with international assets. This often requires the expertise of financial professionals familiar with global markets. The court may also need to work with legal professionals in the relevant foreign jurisdictions to ensure compliance with local laws.
Managing disputes over international assets
High-asset divorces involving international assets require careful planning and proper guidance. Understanding how Pennsylvania law treats these assets can help the parties protect their interests and achieve a fair settlement.
They can consider alternative dispute resolution methods like mediation or arbitration if disputes arise. They may seek legal counsel who can ensure full compliance with legal requirements in both jurisdictions, helping to facilitate a smoother process. In addition, they can collaborate with financial experts to accurately value international assets, ensuring that settlement negotiations are fair.
